So... anyone file for bankruptcy more than once?

[Kashmir]

We filed for Chapter 7 in 2002. No asset, straightforward case. It was mostly due to a reduction in income, which caused us to start juggling debts. Late fees, interest, and eventually over-the-limit fees got us to the point where we just could never catch up, no matter what we did. It was a very stressful time, as we tried juggling for well over a year before we finally conceded that it was hopeless. The relief of bankruptcy was wonderful.

We were doing really well at getting back on our feet. The last thing we wanted to see were more credit cards. We did see that we had to rebuild our credit though. We had to buy a new (used) car when our family car started having a lot of problems, and of course we got a terrible rate and a very high payment. After awhile, we each got an unsecured credit card. That was more than enough. Even with the high car pmt, we were doing well. Well enough that we bought a house in 2005 at 6.3%. We were planning to refinance the car (which we were upside down on at this point) now that our credit was starting to improve.

Then disaster struck. My husband was laid off in Dec 2005. We had managed to save up a bit for emergencies, so between that and unemployment compensation we managed to barely keep afloat. Eventually though, unemployment ran out and we started falling behind on everything... even the house. My husband started working again in October, but by then the damage was done. Our car was in danger of repossesion, the credit cards were all late and by then, over the limit due to fees, and the very worst part - we were served with foreclosure papers in Dec (after being misled and lied to - long story for another time).

So, here we are again. Ain't life grand?! We most certainly don't want to lose our house - we got a good rate and a good price. So we filed for Chapter 13 on Monday. It's so depressing to be back here again, only a few years later, even though this is a completely different circumstance. Our credit card debt is total under 5k, so that wasn't why. We had to file because of the mortgage arrears.

Anyway, please tell me I'm not the only loser around here that's had to file twice or more?! Sigh... I've experienced both chapters of bankruptcy under both new law and old law. Yay?

[manglicmot]

Thirteen years ago. Circumstances were a bit different back then. No assets and virtually no income, I had gotten out of the service a few years prior and could not get a job. Frankly, I don't remember much about it, I was a complete drunk in those days. I still have the paperwork, I found it in the bottom of the closet.

[BK'd-Betty]

You're not alone.

I filed Ch 7, 18 years ago - was young, stupid, and living WAY beyond my means.

Filed again 2005 due to small business failure.

[jal1129]

Me too. Filed 13, 15 years ago due to among other things problem with a rental house we owned. Finally got thru that and built a house we could'nt afford, sold it less then 2 years later and my husband talked me into buying a fixer-upper which turned into a money pit and we ended up loosing everything and running up thousands on the cc cards. Got rid of it finally and struggled along with the debt for a couple of years. A few months ago DH was in an accident and has been unable to work, so we will be filing a no-asset chap 7 before the end of the month.

[AMISLANDER]

Isn't there an amount of time you have to wait if you file bk again?

[SamanthaJones]

You can file as often as the law allows.

The option for bankrupcty encourages people and companies to 'if at first you don't succeed, try, try again'. Lots of bankrupt people end up very rich, and bankrupct companies end up employing thousands of people, which leads to more tax income, and etc. Bankrupcty is good for the economy- the only shame in it is being able to file, and not taking advantage of that constitutional right~

[lrprn]

Isn't there an amount of time you have to wait if you file bk again?

You can only file for Chapter 7 bankruptcy once every eight years. You have to wait two years to repeat a Chapter 13 filing and four years between a Chapter 7 and a Chapter 13 case. HTH!

[CATCHMEIFYOUCAN]

Filed Bk7 No Asset 12 years ago just was young and dumb, no direction with my money. Just filed several months ago, Ch13 converted to Ch7 No Assets, had become a gambler and again, just dumb, getting old, no direction with my money. You'd think once bitten, twice shy!

Catchmeifyoucan

[arkienurse]

Hubby and the boys' mother filed a ch 7 18 years ago. DS#2 came 3 months early. After insurance reached its limit, they got medicaid that covered a lot, but they were still left with close to 100K. DH says the only creditor that showed up to object was one of the doctors that had refused to accept their medicaid for payment. DH popped up with " your honor, the doctor could have been paid in full if he would have taken medicaid, and I don't think he should be allowed to object." The judge sided with DH and his wife.

[jam]

add me in chpter 7 in sep of 2002 11 monthes now cc bills are way out of control and mortgages twice what house is worth yes i will file in sept of 2010

[sigferl]

Thanks for your post SJ. I respectfully disagree completely.

BK is not good for the economy.

Forclosure id not good for the economy.

Are you saying that we should ALL file BK? Who pays for your bills if you do not pay?

BK forces others to pay someone elses bills. Business BK is completely different from personal BK. How many BK filers on this board have started a business that has employeed at least 10 people.

If BK is so good why does the goverment frown on personal BK and reformed BK to me more restrictive?

I think you need to do more thinking/reading if you think BK is good for anybody but the person filing BK.

Freedom is not free.

The option for bankrupcty encourages people and companies to 'if at first you don't succeed, try, try again'. Lots of bankrupt people end up very rich, and bankrupct companies end up employing thousands of people, which leads to more tax income, and etc. Bankrupcty is good for the economy- the only shame in it is being able to file, and not taking advantage of that constitutional right~

[sigferl]

Thanks for your post catch. I hope Ohiofiler is here to read this.

God Bless America.

Filed Bk7 No Asset 12 years ago just was young and dumb, no direction with my money. Just filed several months ago, Ch13 converted to Ch7 No Assets, had become a gambler and again, just dumb, getting old, no direction with my money. You'd think once bitten, twice shy!

Catchmeifyoucan

[forgotten]

BK forces others to pay someone elses bills. Business BK is completely different from personal BK. How many BK filers on this board have started a business that has employeed at least 10 people.

How is business BK different than personal? Both situations are the entity no longer being able to meet its financial obligations. An average business pisses away more money in a day than an average consumer could ever come close to.

Until May of this year I owned a business that employeed 25 people. I am now in personal debt of over $300k unsecured and $500k secured. A lot of this debt is from the business and a lot of it is when I couldn't work for several years because of medical issues...

I racked up debt because I knew I could regain substainal employment/income in the future, which I did from the business until it eventually went under due to the economy.

What is better in my case? File CH13, paying back $1000/mo for 5 years until I am discharged of the rest or to allow all the creditors to sue me for judgements (as there is no way to meet all the minimum payments), and live being constantly hounded for money and having interest piled on to my existing debts that I will never get out from under until the day I die?

It is obvious you are a troll, and I have no idea why I just didn't ignore you... but now that I typed all of this I might as well go ahead and submit it.

Do you head over to cancer forums and tell people that don't have the money to pay cash out of pocket for their treatment to stop treatment right away as its rasing the cost of healthcare for everyone? After all, even if you are insured you are raising the cost of insurance!

[kym]

No your not alone!

We filed back in '99 a chapt 13, to save our house that was in foreclosure...then we filed '08 a chapt 13 then converted it to a chapt 7 when we had $40 paychecks....(job cuts and such)

So i am kinda in the boat with ya.. Both times our main reason was for filing was medical.... There is no way for us to avoid it...

So hubby and I both enrolled in a vocational school hoping this is it.. If I get a good job with some benefits (if they still exist out there)

[jennordhavn]

I filed Ch. 7 in Nov. 2000 primarily due to not getting any child support. I had to stop paying my bills in 1999 when I had my baby so that I could afford daycare, etc. I filed Ch. 7 again in Dec. 2008....this time it was partially due to living over my means, but also due to two forced moves that drained us financially, and a break in my child support of 8 months.